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Tesla Inc shares jumped 4% in extended trade on Monday after S&P Dow Jones Indices said it would add one of Wall Street's most valuable companies to the S&P 500 index all at once on Dec. 21. Adding Elon Musk's Tesla to Wall Street's most followed benchmark will force index funds to buy about $73 billion worth of its shares, S&P Dow Jones Indices said. The electric car maker's stock has surged over 40% since Nov. 16, when it was announced Tesla would join the index.
Seven-time Formula One champion Lewis Hamilton has tested positive for COVID-19 and will miss this weekend's Sakhir Grand Prix. The Mercedes team said in a statement Tuesday that Hamilton was tested three times last week and returned a negative result each time, the last on Sunday afternoon at the Bahrain International Circuit. “But he up woke Monday morning with mild symptoms and was informed at the same time that a contact prior to arrival in Bahrain had subsequently tested positive,” the te
Volkswagen, the world's largest vehicle maker by sales, risked a leadership crisis on Tuesday after Chief Executive Herbert Diess forced a vote of confidence in his reform efforts by asking for an early contract extension. The multi-brand car and truck maker is convening its Executive Committee to discuss Diess's demand for the contract extension, long before his current term comes to an end in 2023, three sources told Reuters on Monday. Volkswagen Chairman Hans Dieter Poetsch is seeking to av
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Want a cheap used car to nip around town without running the gauntlet of coronavirus on public transport? Welcome to Pandemic Motors, we have just what you need. Across Europe, people are snapping up old bangers, clunkers, Klapperkasten, tacots and catorci, desperate to avoid buses and trains but wary of splashing out on a shiny new motor in uncertain economic times.
Compatriot Laia Sanz, a 13-times women's trial motorcycle world champion, will be his team mate. Sanz has reached the finish 10 times in the Dakar Rally on two wheels with a best result of ninth. Sainz, 58, is the father of Ferrari-bound McLaren Formula One driver Carlos Sainz Jr, who will also be a shareholder in the all-Spanish ACCIONA Sainz XE team.
General Motors Co and Nikola Corp on Monday announced a reworked, smaller agreement that keeps a fuel-cell partnership intact but eliminates an equity stake in the startup for the Detroit automaker as well as plans for building Nikola's electric pickup truck. In September, the companies announced a deal under which GM would supply batteries, a chassis architecture, fuel cell systems and a factory to build the startup's proposed Badger electric pickup in return for an 11% stake and $700 million.
Romain Grosjean credited the halo protection bar with saving his life in a fiery crash that ripped his car in two on the opening lap of the Bahrain Formula One Grand Prix on Sunday. Grosjean, who clambered out and limped away from the crash, miraculously escaped with only burns to his hands and was being treated overnight at a nearby hospital. "I wasn’t for the halo some years ago but I think it’s the greatest thing that we brought to Formula One and without it I wouldn’t be able to speak to y
Grosjean was lucky to escape with his life after his Haas car speared through metal barriers, splitting in two and bursting into flames. "I’m disgusted and disappointed with Formula One for showing or choosing the way to show it as they did, and broadcast replays after replays after replays of the fire, and his car split in half," said Renault's Ricciardo. Ricciardo said Formula One, whose commercial rights are owned by U.S.-based Liberty Media, was lucky it was not having to deal
Lewis Hamilton won the Bahrain Formula One Grand Prix for Mercedes on Sunday after French driver Romain Grosjean had a miraculous escape from a fiery first-lap crash that ripped his car in two. The win, from pole position, was the 95th of seven-times world champion Hamilton's career and came with the safety car leading the field to the chequered flag. Red Bull's Max Verstappen finished second with Thai team mate Alexander Albon completing the podium in the floodlit race at Sakhir after inherit
Jamie Chadwick, the first champion in the all-female W Series, has been bitten by the rally bug after testing the electric SUV she will race for the Veloce team in Extreme E next year. Each of the 10 competing teams must enter a male and female driver, and Veloce confirmed Chadwick on Wednesday.
Formula One driver Romain Grosjean appears to have escaped with burns after his car crashed and burst into flames moments after the start of the Bahrain Grand Prix on Sunday. The 34-year-old French driver slid off track on the first lap and his Haas car burst into flames after being sliced in two by a barrier. Grosjean clambered out with the fire roaring behind him and his race helmet singed.
Hyundai and Kia must pay $137 million in fines and safety improvements because they moved too slowly to recall over 1 million vehicles with engines that can fail. The National Highway Traffic Safety Administration announced the penalties on Friday. “It’s critical that manufacturers appropriately recognize the urgency of their safety recall responsibilities and provide timely and candid information to the agency about all safety issues,” NHTSA Deputy Administrator James Owens said in a statemen
Volkswagen is bringing forward the development of a small electric car for the mass market in anticipation of tougher climate regulations, according to plans seen by Reuters, as it seeks to boost sales in a new green era. Under the project dubbed "Small BEV (Battery Electric Vehicle)", engineers are racing to develop a purely-battery powered car around the size of a Polo which will be available for between 20,000 and 25,000 euros ($24,000-30,000). This would make it cheaper than Volkswagen's I
Lewis Hamilton heads into Sunday’s Bahrain Grand Prix as the most successful driver in Formula One history, and now a seven times world champion, but the Briton will not be slowing down as he aims to round out a record-breaking season in style. The Mercedes driver clinched the title at the previous race in Turkey to equal Michael Schumacher’s record seven, having already surpassed the Ferrari great’s tally of 91 race wins. With three races to go and 10 wins from 14, Hamilton is on course for h
The U.S. government's road safety agency is investigating complaints that suspensions can fail on nearly 115,000 Tesla electric vehicles. The National Highway Traffic Safety Administration says it has 43 complaints that linkages near the ball joints can fail, allowing contact between the tire and wheel liner. In addition, NHTSA says it has eight complaints that may involve suspension failures that haven’t been confirmed by photos or service records.
Renault will stop assembling new cars at its Flins factory outside Paris and turn the site into a research, recycling and repair centre by 2024 in a move set to save full-time jobs at the plant, the company said on Wednesday. "The status quo was no longer possible, we had to be lucid about this," Renault Chairman Jean-Dominique Senard told an online news conference after meeting with unions at Flins, flanked by new Chief Executive Luca De Meo. Renault, which had been struggling with waning pro
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